3 Steps for Predicting your Sales by Elizabeth Gillam is a great article on MYOB Pulse. It covers the need to predict future sales, the benefits of setting up a sales budget and helpfully includes suggestions on how to go about it. 'once you have your budget, you have targets for your team' The first challenge to implementing the suggestions is it's often not that easy to collect this type of data. Next challenge is how do you measure future performance against the new goals on a regular basis. Our Business Intelligence for Cloud service is all about simplifying this stuff so we challenged ourselves to implementing these suggestions using BI4Cloud. 1. Review Sales History To understand the breakdown of your sales history it is important to understand the many elements that go to make it up - we chose the following measures Transactions or Number of Invoices - per day, per week, per month Customers served - per day, per week per month Total Sales Value - per day, per week per month Average spend - per customer, per invoice Sales $ and Qty - by Brand, Product Group, Distribution channel, Customer group, Sales rep Finding the data Using [...]
